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Steven, Stephen or Stephen Michael Hargreaves was the CEO of International Innovations Ltd (IIL) until June 2012.
He has founded 5 companies to my knowledge over a 10 year plus period; None of which have ever listed or made anything but a loss for their shareholders,
These companies are Richter Technology, Linear Energy, Select Design Technology Ltd (SDTL) as well as International Innovations Ltd (IIL) and International Innovations Europe Ltd. (IIE). The later are companies created to exploit a patent which describes a method to convert waste heat into electricity cheaply. All are or were Australian companies.
The price of shares in SDTL, which like all of these companies was about to list, was anything from 10c to 40c . The company never listed and has basically faded to nothing. Investors in SDTL were given 1:1 shares (but 1c shares) in 10% of IIL when SDTL failed. IIL shares were at the same time sold at higher than 1c. For shareholders buying in at the end of SDTL this was a tenfold decrease in the 'value' of their shares in a few months. Mr Hargreaves got approximately 400m IIL shares in a total of 600m shares for $600. Is this fair on the many Mum and Dad investors?
Many shareholders invested their retirement income in these ventures, there were annual promises to list. IIL does own patents in some countries but that is all there is to show since its foundation 8 years ago, It has an acknowledged good idea which has never been brought to fruition, where other companies with more complex but similar ideas have been in production for many years.. Where has the $AUS10m invested in the company gone you might ask? Well the salary and expenses of the CEO might be one reason.
Most IPO companies look after the seed investors who have been with the company since inception; IIL as operated by this man is the exact opposite. He has sold shares in the company to maintain the salary ($300000 pa) of the CEO, At the last count there were approximately 12 billion shares issued for IIL. The last price was 1/4c (0.25c). This shows scant regard for the early shareholders.
Mr Hargreaves is reputed to be setting up a new company in Malta exploiting the patents owned by IIL.
If I were asked to invest in this new Malta company, I would look at the track record of this man. I would recommend that any potential investor carry out due diligence of their own on Stephen (call me Steve) Hargreaves.
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YES ! That describes Hargreaves to a "T". Based on my enquiries with many investors and persons who have passed him thousands one could add scammer, conman, liar and thief.
Why Hargreaves behaves the way he does
Symptoms of Narcissistic Personality Disorder (NPD)
In order for a person to be diagnosed with narcissistic personality disorder they must meet five or more of the following symptoms (HARGREAVES HAS THEM ALL) :
- Has a grandiose sense of self-importance (e.g., exaggerates achievements and talents, expects to be recognized as superior without commensurate achievements)
- Is preoccupied with fantasies of unlimited success, power, brilliance, beauty, or ideal love
- Believes that he or she is “special” and unique and can only be understood by, or should associate with, other special or high-status people (or institutions)
- Requires excessive admiration
- Has a very strong sense of entitlement, e.g., unreasonable expectations of especially favorable treatment or automatic compliance with his or her expectations
- Is exploitative of others, e.g., takes advantage of others to achieve his or her own ends
- Lacks empathy, e.g., is unwilling to recognize or identify with the feelings and needs of others
- Is often envious of others or believes that others are envious of him or her
- Regularly shows arrogant, haughty behaviors or attitudes
Narcissists do not change - treatment is pointless. Narcissists are blameless - it is always someone else’s fault.
INVESTORS be warned - stay away from this guy. Nobody has ever seen a return on investment !
WOULD YOU BELIEVE IT.? HARGREAVES HAS STARTED A NEW COMPANY IN THE SAME OFFICE BLOCK AS HIS OTHER FAILED SCAMS MENTIONED ABOVE. (IIL and SDTL) HIS NEW COMPANY IS VERY APTLY CALLED "MORECASH" (I SUSPECT THAT WILL BE MORE CASH FOR HARGREAVES !) HE ONLY ASKS FOR REGULARLY MONTHLY PAYMENTS OR AN ANNUAL CONTRACT COSTING $2, 000. I BET HE IS INUNDATED WITH APPLICANTS WILLING TO GIVE HIM THEIR MONEY AFTER READING ABOUT HIS PREVIOUS SCAMS
CONMAN, SCAMMER. SIMPLE
Hargreaves is now back in Australia (since Oct. 2013?). He left his wife and children behind in Poland.
Hargreaves is employed by a company and works in Melbourne. I hope it is honest work!
In mho it is only a matter of time until Hargreaves embarks again on a career as an entrepreneur, who can make gullible investors very rich in a very short period of time.
The internet is here to protect you! Search the net! There are hundreds of listings on several websites informing you about the zero success rates of Mr Stephen Michael Hargreaves. Why should his next venture be any different from his numerous previous ones?
Hargreaves has returned to Australia in Oct. 2013. His marriage fell apart (?) - wife and children are left behind in Poland.
Hargreaves is now employed by someone, earning an income with "honest work". In mho it is only a matter of time until he starts a new venture that again uses his proven recipe. Watch out and stay away! The power of the internet is here to protect gullible investors from scam artists.
Hargreaves never listens to advice or heeds warning signals. He seems to be deluded. He cannot understand that his visions of grandeur are way over the top. He is convinced that he must be the central figure in order "to make things happen".
The only thing that happens is money flowing into his pocket.
Hargreaves failed with his Malta venture, went back to Poland and lives now in Mauritius. He is desperately trying to find new investors. Hargreaves track record is Zero return! If you can afford to lose all your money then invest and you will be Hargreaves' new best friend. Be prepared that he will always come back for more.
After Mauritius he will try South Africa. Be warned - he sounds very convincing. It all makes sense what he says! The only problem is Hargreaves himself. He goes completely overboard with his spending habits. No wonder, because he is unable to plan ahead with facts and figures. Nail him down on this and you will see how competent he really is. In the past 20 years, with his involvement, there was never a return on investment. If you question him on this he will always blame events and persons. He cannot be at fault, because he is simply the best.
Sorry better in landsacpe
A very active Hargreaves